Kesoram to cut jobs by more than 50%

Jul 18, 2002, 06.13am IST

KOLKATA: Kesoram Textile Mills is planning to prune workforce by more than 50 per cent in coming months. The company has about 1,700 on its payroll.

Speaking to newspersons after the company's 3rd annual general meeting held on Wednesday, Kesoram Textiles Mills Ltd chairman, N G Khaitan said that the company will have to reduce its workforce. "But the company does not have any fund to give a separation scheme to its workers," Khaitan said.

At the time of the closure, the company had more than 3,000 employees. Union sources claim around 1,300 employees have resigned from the company as work at the company's Garden Reach Road unit in Kolkata has been suspended for the last three years due to labour problem.